Lesson’s From The Worlds Richest Man..

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This week Jeff Bezos became the richest man in the world, with a $93 billion net worth, having built one of the most successful companies in the world.

Today will be his Day 1. 

Are you also on Day 1?

From Jeff Bezos’ 2017 Amazon Annual Letter:

“Jeff, what does Day 2 look like?”

That’s a question I just got at our most recent all-hands meeting. I’ve been reminding people that it’s Day 1 for a couple of decades. I work in an Amazon building named Day 1, and when I moved buildings, I took the name with me. I spend time thinking about this topic.

“Day 2 is stasis. Followed by irrelevance. Followed by excruciating, painful decline. Followed by death. And that is why it is always Day 1.”

To be sure, this kind of decline would happen in extreme slow motion. An established company might harvest Day 2 for decades, but the final result would still come.

I’m interested in the question, how do you fend off Day 2? What are the techniques and tactics? How do you keep the vitality of Day 1, even inside a large organization?

True Customer Obsession

There are many ways to center a business. You can be competitor focused, you can be product focused, you can be technology focused, you can be business model focused, and there are more. But in my view, obsessive customer focus is by far the most protective of Day 1 vitality.

Why? There are many advantages to a customer-centric approach, but here’s the big one: customers are always beautifully, wonderfully dissatisfied, even when they report being happy and business is great. 

Staying in Day 1 requires you to experiment patiently, accept failures, plant seeds, protect saplings, and double down when you see customer delight. A customer-obsessed culture best creates the conditions where all of that can happen.

A remarkable customer experience starts with heart, intuition, curiosity, play, guts, taste. You won’t find any of it in a survey.

High-Velocity Decision Making

Day 2 companies make high-quality decisions, but they make high-quality decisions slowly. To keep the energy and dynamism of Day 1, you have to somehow make high-quality, high-velocity decisions. Speed matters in business – plus a high-velocity decision making environment is more fun too. We don’t know all the answers, but here are some thoughts.

First, never use a one-size-fits-all decision-making process. Many decisions are reversible, two-way doors.

Second, most decisions should probably be made with somewhere around 70% of the information you wish you had. If you wait for 90%, in most cases, you’re probably being slow. 

Third, use the phrase “disagree and commit.” This phrase will save a lot of time. If you have conviction on a particular direction even though there’s no consensus, it’s helpful to say, “Look, I know we disagree on this but will you gamble with me on it? Disagree and commit?” By the time you’re at this point, no one can know the answer for sure, and you’ll probably get a quick yes.

Fourth, recognize true misalignment issues early and escalate them immediately. Sometimes teams have different objectives and fundamentally different views. They are not aligned. No amount of discussion, no number of meetings will resolve that deep misalignment. “You’ve worn me down” is an awful decision-making process. It’s slow and de-energizing. Go for quick escalation instead – it’s better.

So, have you settled only for decision quality, or are you mindful of decision velocity too?

Are the world’s trends tailwinds for you?

And most important of all, are you delighting customers?

We can have the scope and capabilities of a large company and the spirit and heart of a small one. But we have to choose it.

A huge thank you to each and every customer for allowing us to serve you, to our shareowners for your support, and to Amazonians everywhere for your hard work, your ingenuity, and your passion.

As always, it remains Day 1.

Sincerely,

Jeff”

Our way of doing things is unique and it’s why it produces unique results for our clients…

We would love the opportunity to help you clear your head on what is the right way for you to accelerate your business… 

We highly recommend you watch this step-by-step case study of how we grew Beefy’s Pies into a Famous Aussie Icon from a small stressed out bakery into a family owned chain. Click here to get all the insights into their success…

Or if you have heard enough about how we work with our small business owners, then let’s have an off the record chat about your current situation and see what we can do to immediately guide you…click this link to see what time best suits you.

P.S. Ask if our Boardroom Program intake is open for enrolments…It works best for business owners who see the benefit of having us on as their ‘external partner’ so that they are not alone in the day to day decisions of their business. 

One of the most valuable activities you can do as a business owner and sales professional is to build relationships with people. High quality relationships are not built around a desk.

Try this: Identify the biggest 20% of the relationships you have in your business and go out there and talk to them. Get rid of your desk for 14 days and do just that.

Connect up with your top clients/prospects/centres of influence and see what comes of it. I assure you, you’ll get rid of your desk in an instant on the 15th day.

My accountant did just that, except he didn’t wait until the 15th day. He did it on the first day he heard about this lesson.

It’s what I truly admire about him. Many people over-analyseo an idea, and they do that as a habit over many things in their business. As a consequence they delay progress. They become their own worst enemies in moving their business forward.

Here’s what my accountant did:

Despite having a schedule full of client appointments the next day, it didn’t stop him from removing his desk, removing all shelving, removing all cabinets and removing all traces of paperwork. All he had left in the room was his trusty whiteboard on the wall and four chairs.

No desk.

 

 

Our way of doing things may or may not be right for you…

Either way, it’s always good to get a second opinion on your business situation.

Let’s have an off the record chat about your current situation…click this link to see what time best suits you.

Wayne Hutcheson

P.S. Ask if our Boardroom Program intake is open for enrolments…limited to 8 Businesses.

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About the Author:

Wayne Hutcheson is a Coach of the highly regarded Grow Business Grow Boardroom Program. He works closely with a hand full of clients to help them achieve growth in their business and to enjoy 'guilt-free' time away from their business without it affecting their profitability.
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